HomeUSASmart Wires Raises $65M in Growth Financing

Smart Wires Raises $65M in Growth Financing

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Smart Wires

Smart Wires, a Durham, NC-based grid-enhancing technologies provider, raised $65M in growth financing.

The round included new investments from BP Energy Partners alongside Keystone Group.

The company intends to use the funds to further scale its commercial operations in 2025 and beyond.

Led by CEO Joanna Lohkamp, Smart Wires is a grid enhancing technology and services provider. It helps electric utilities generate capacity and solve their critical grid issues, using its solutions to create a more flexible, reliable and affordable grid. Its grid-enhancing technologies (GETs), such as the SmartValve™ advanced power flow control (APFC) device, give utilities the flexibility to manage capacity and load issues and have already helped utilities gain nearly 4 GW of firm capacity from their existing networks. SmartValve can be rapidly deployed, adjusted, or relocated as needed to adapt to changing system demands and accommodate new power generation sources.

Utilities across the Americas, Europe, and the APAC region partner with Smart Wires to address critical grid challenges, with hundreds of power flow control devices deployed across four continents. Recent deployments include projects with Central Hudson Gas & Electric, National Grid Electricity Transmission, and ISA TRANSELCA. The company is also working on upcoming projects with Southern Company and Georgia Tech, Avista Utilities and Idaho Power, ISA ENERGIA BRASIL, and many other utilities.

FinSMEs

29/01/2025

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